2014-04-01 18:59:02 - Agricultural and Forestry Machinery in Australia: ISIC 2921 - a new market research report on companiesandmarkets.com
With farming an essential industry for Australia and farming equipment in turn very important for agriculture, the industry of manufacture of agricultural and forestry machinery displayed 6% annual growth over 2000-2010. Experiencing net 83% growth over the decade, the market reached A$4.4 billion in value in 2010.
In terms of annual growth, the market was quite volatile as double-digit growth one year was often followed by a decline the next. Hit by the downturn with a 5% year-on-year decline in 2009, the impact continued with a further 9% y-o-y decrease in market size in 2010. The vast majority of demand each year was created by capital purchases.
While capital purchases were responsible for the already high 72% value share of demand in
2000, their importance further increased to 82% by 2010. Other business purchases were also important, but their importance declined from a 22% value share of the total market in 2000 to a 12% value share of all purchases at the end of the decade.
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